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Explore RBC’s Top Low Interest Rate Credit Card
Whether you’re balancing your budget, funding an unexpected purchase or consolidating debt, a fixed low interest rate credit card can help you pay less interest when you carry a balance. Plus, you’ll enjoy the benefits of an RBC Visa card.
Understanding Low Interest Credit Cards
What is a low interest rate credit card?
A low interest rate credit card comes with an interest rate lower than most other credit cards. So, if you don’t pay off your balance in full by the due date, you will be charged less interest compared to a typical credit card. Over time, if you continue to carry a balance, you’ll pay significantly less in interest.
The actual interest rate on low interest rate cards vary by credit card issuer.
What is the difference between a fixed rate and a variable rate credit card?
A fixed rate credit card has an interest rate that stays the same, offering you stability and easier budgeting. It will not fluctuate with changes in the market, but issuers can still adjust it with notice.
A variable rate credit card is tied to a benchmark like a prime rate, so your interest rate will fluctuate and may increase over time.
This credit card has a fixed interest rate, which offers predictability and stability. This is a great card for those who value consistency and the ability to budget their expenses.
What are the advantages of a low interest rate credit card?
Save on interest charges: If you choose to carry a balance, you pay less in interest charges and your payments are more affordable.
Consolidate debt: Transferring high-interest balances to a low-interest rate card can help you pay down your balances faster.
Fund an unexpected purchase: Your low interest rate credit card can offer a safety net for unexpected expenses.
Discover More Ways to Save with Avion Rewards
The RBC Visa Classic Low Rate Option credit card gives you access to even more ways to save with the Avion Rewards™ program. Simply sign in to Avion Rewards with your RBC Online Banking credentials to start saving and earning points with offers from over 2,000 top brands.
How to Apply for a Low Interest Rate Credit Card
Compare Credit Cards
See how a low interest rate card can help you pay less interest.
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Once you find the right card for you, apply in five simple steps and get a result in less than a minute.
FAQs
You may find a lower promotional interest rate as a special offer, but those tend to be for a limited time only. Our low interest rate cards focus on low rates as a standard benefit. So if you regularly carry a balance, our low rate options could be the right fit for you.
A low credit card interest rate is generally considered to be under 14% APR (Annual Percentage Rate). As standard credit cards often come with rates between 19.99% and 22.99%, a low interest rate card offers a more affordable way to borrow.
RBC’s lowest rate card is the RBC Visa Classic Low Rate Option. It has a fixed annual interest rate of 12.99% on purchases10 and cash advances, including balance transfers.
A balance transfer is when you move an outstanding balance from one credit card to a different card, typically with a lower interest rate.
Low interest credit cards are designed to help you save on interest charges, which means they typically don’t include extra perks like rewards, cash back or insurance coverage.
If a low interest rate isn’t your top priority, there may be other cards that better suit your needs. At RBC, we offer travel credit cards that let you earn points toward your next trip and come with built-in insurance benefits, rewards credit cards that reward you for everyday purchases like groceries, dining, gas and streaming services, as well as cards that offer cash back, no annual fees or student-specific advantages.
